✨ Trust Bank Annual Report
20 JULY NEW ZEALAND GAZETTE 1925
Appreciation
The trustees of Trust Bank Wellington Community Trust have continued to act in a diligent and prudent manner. With the restructuring of Trust Bank New Zealand and the proposed amendments to the trust deed the trustees are moving the trust into a challenging and exciting phase.
I offer my sincere thanks to all the trustees, and especially those who have carried out activities over and above the call of duty. Also to the executive, Frances Russell, and Brian McLaughlin (part time accountant), for their excellent day to day running of the trust.
The trust continues to play an important role in the philanthropic, cultural and recreational development of our region and now, with the increased income, a greater number of worth-while charitable organisations will benefit.
W. A. (Bill) BRIEN, Chairperson.
Income and Expenditure Account for the Year Ended 31 March 1995
| 1994 $ | 1995 $ | |
|---|---|---|
| Income— | ||
| Dividends, Trust Bank New Zealand Limited | 540,638 | 787,500 |
| Interest | 26,926 | 506,666 |
| Interest—Tower Corporation Holdings Limited | — | 157,471 |
| 567,564 | 1,451,637 | |
| Expenditure— | ||
| Accident compensation | 117 | 141 |
| Accounting fee | — | 4,140 |
| Advertising | 4,824 | 6,859 |
| Auditors’ fee | 759 | 1,783 |
| Brokerage | 96,142 | — |
| Computer expenses | — | 720 |
| Depreciation | — | 387 |
| Functions | 1,489 | 4,972 |
| General expenses | 98 | 454 |
| Grants related expenses | — | 1,213 |
| Insurance | — | 721 |
| Photocopying/faxing | — | 373 |
| Printing and stationery | 546 | 894 |
| Postage | 323 | 455 |
| Professional fees | 5,628 | 29,023 |
| Rent | — | 5,462 |
| Salaries | — | 10,000 |
| Secretarial services | 7,139 | 11,217 |
| Telephone and tolls | — | 487 |
| Travelling expenses | 33 | — |
| Trustees’ fees | — | 12,910 |
| 129,488 | 92,211 | |
| Total expenditure | ||
| Net income before grants | 438,076 | 1,359,426 |
| Profit on sale of shares | 6,37,500 | — |
| 7,075,576 | ||
| Less grants | 459,338 | 627,076 |
| Net Profit transferred to trust fund | 6,616,238 | 732,350 |
Balance Sheet as at 31 March 1995
| 1994 $ | 1995 $ | |
|---|---|---|
| Trust funds— | ||
| Balance 1 April 1994 | 5,185,399 | 11,801,637 |
| Net income for year | 6,616,238 | 732,350 |
| Revaluation reserve (Note 2) | 19,894,342 | 17,531,842 |
| 31,695,979 | 30,065,829 | |
| Represented by: | ||
| Current assets— | ||
| Debtors and prepayments | 8,048,858 | 3,012 |
| Deposits—Trust Bank Wellington Limited | 4,240 | 622,283 |
| Deposits—National Disaster Relief Fund | — | — |
| Interest receivable | 14,431 | 5,896 |
| Cash at bank—Trust Bank Wellington Limited | 13,681 | 28,996 |
| Total current assets | 8,081,210 | 660,187 |
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VUW Te Waharoa —
NZ Gazette 1995, No 71
NZLII —
NZ Gazette 1995, No 71
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Trust Bank Wellington Community Trust Annual Report
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💰 Finance & RevenueAnnual report, Charitable trust, Community benefits, Trustees, Wellington
- Frances Russell, Executive of the trust
- Brian McLaughlin, Part-time accountant for the trust
- W. A. (Bill) Brien, Chairperson of the trust